Forecasting Sales of Truck Components: A Machine Learning Approach
2020 (English)In: 2020 IEEE 10th International Conference on Intelligent Systems, IS 2020 - Proceedings / [ed] Sgurev V.,Jotsov V.,Kruse R.,Hadjiski M., Institute of Electrical and Electronics Engineers Inc. , 2020, p. 510-516, article id 9200128Conference paper, Published paper (Refereed)
Abstract [en]
In this paper, forecasting sales model for truck components using machine learning algorithms is proposed. The forecasting model helps companions (i.e. Volvo Trucks) in the activity of trade and business. It also plays a major role for firms in decision-making operations in the areas corresponding to sales, production, purchasing, finance, and accounting. In order to achieve good forecasting sales mode, firstly, a normalization approach is performed on the time-series data to reduce and eliminate the data redundancy. After that, feature extraction and selection techniques are employed on the normalized data. Finally, different machine learning methods such as Support Vector Machine Regression, Ridge Regression, Gradient Boosting Regression and Random Forest Regression have been applied to the features of the normalized time-series data. Results depict that ridge regression method gives the most promising forecasting sale results of truck components compared to the other machine learning methods. © 2020 IEEE.
Place, publisher, year, edition, pages
Institute of Electrical and Electronics Engineers Inc. , 2020. p. 510-516, article id 9200128
Keywords [en]
feature extraction and selection, Machine learning, normalization, sales forecasting, time-series data, Adaptive boosting, Decision making, Decision trees, Feature extraction, Forecasting, Intelligent systems, Sales, Support vector machines, Support vector regression, Time series, Trucks, Turing machines, Forecasting modeling, Gradient boosting, Machine learning approaches, Machine learning methods, Ridge regression, Support vector machine regressions, Learning systems
National Category
Computer and Information Sciences
Identifiers
URN: urn:nbn:se:bth-20602DOI: 10.1109/IS48319.2020.9200128Scopus ID: 2-s2.0-85092732294ISBN: 9781728154565 (print)OAI: oai:DiVA.org:bth-20602DiVA, id: diva2:1484856
Conference
10th IEEE International Conference on Intelligent Systems, IS 2020, Sofia, Bulgaria, 28 August 2020 through 30 August 2020
Part of project
Bigdata@BTH- Scalable resource-efficient systems for big data analytics, Knowledge Foundation
Funder
Knowledge Foundation, 20140032
Note
open access
2020-10-302020-10-302021-07-31Bibliographically approved